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SEC enforcement actions resulted in a record $3.4 billion in monetary
sanctions in fiscal year 2013, the commission announced.

The total was 10% higher than in FY 2012 and 22% higher than in FY
2011, when the SEC filed the most actions in agency history. The SEC
filed 686 enforcement actions in FY 2013, fewer than in FY 2012 (734)
or FY 2011 (735). The SEC’s fiscal year ends Sept. 30.

For the third straight year, investment advisers and investment
companies were the most common subjects of SEC enforcement, with 140
actions taken against them. Delinquent filings, with 132 actions, were
the second most common activity targeted for SEC enforcement.

The number of Foreign Corrupt Practices Act enforcement actions
dropped to five, down from 15 in 2012 and 20 in 2011.

TAX NEWS

President Barack Obama signed legislation that retroactively extended more than 50 expired tax provisions for 2014, allowing taxpayers to take advantage of a host of tax incentives during this filing season.

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